Blue Asset Management LLC Closes on North Bergen, New Jersey Multi-family Property

Charles Blumenkehl, managing partner of Blue Asset Management and CEO of Blumenkehl Properties, announced his company has taken title to a multi-family foreclosed property in North Bergen, New Jersey.

According to Blumenkehl. "We are please to have been able to complete this transaction. The property we have bought is in a very desirable area and offers our prospective tenants, once we complete the rehabilitation of our newly acquired property, spacious apartments and off street parking, a rarity in North Bergen." Blumenkehl continued, "We are also pleased that we were able to help the lender who had foreclosed on the property monetize their investment quickly despite seasonal challenges, and look forward to helping stabilize the building and already outstanding neighborhood within which the property is located."

Blumenkehl says his company is already receiving calls about the property from interested properties, and expects to the rehabilitation and upgrading of the property to be complete by the end of the first quarter of 2011.

For more information about Charles BLumenkehl, Blumenkehl Properties or Blue Asset Management LLC, log onto the company website at www.blueassetmanagementllc.com or the company directly at 973 935-1400.

Blue Asset Management LLC to Increase Holdings in Hudson County

Charles Blumenkehl, CEO and managing partner of Blue Asset Management LLC has announced that his company has contracted to purchase a multi-family building in the North Bergen, Hudson County area.

According to Charles Blumenkehl, CEO and Managing Partner of Blue Asset Management LLC, "The proximity of North Bergen to Manhattan, the need for rental housing in the market and the opportunity to find properties that have the ability to benefit from our value enhancement systems while providing owners viable exits and helping to revitalize and support the neighborhoods within which the properties are located are a value-added for everone involved."

Blumenkehl's companies currently manage almost 1/2 dozen buildings in the Hudson county market, and plans to increase their holdings as opportunities present themselves. Blumenkehl also sites the Path trains a and local train and subway access now made available through the Jersey City North Bergen corridor as a driver in the desirability for real estate in the Hudson markets.

Charles Blumenkehl is managing partner of Blue Asset Management and Blue companies. Blue Asset Management is a buyer and seller of performing, non-performing and distressed commercial and residential real estate. For more information about Charles Blumenkehl or Blue Asset Management LLC, log onto the company website at www.blueassetmanagementllc.com or call the company directly at 973 835-1400.